Schlumberger’s (SLB) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Schlumberger (NYSE:SLB) in a report published on Monday, Benzinga reports. The brokerage currently has a $69.00 price objective on the oil and gas company’s stock.

Several other brokerages have also issued reports on SLB. HSBC reissued a buy rating and issued a $71.00 target price on shares of Schlumberger in a research report on Thursday, April 4th. TD Cowen increased their target price on Schlumberger from $62.00 to $64.00 and gave the stock a buy rating in a research report on Monday. Morgan Stanley reissued an overweight rating and issued a $65.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. StockNews.com lowered Schlumberger from a buy rating to a hold rating in a research report on Thursday, June 6th. Finally, Susquehanna reduced their price objective on Schlumberger from $77.00 to $70.00 and set a positive rating for the company in a research report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $67.56.

Schlumberger Trading Down 2.1 %

SLB opened at $48.03 on Monday. The business has a 50 day simple moving average of $46.32 and a two-hundred day simple moving average of $48.99. The firm has a market capitalization of $68.65 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 1.06 and a beta of 1.55. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. Schlumberger has a one year low of $42.61 and a one year high of $62.12.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. Schlumberger’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 EPS. Analysts predict that Schlumberger will post 3.48 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.29%. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Insider Transactions at Schlumberger

In other news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the transaction, the chief financial officer now directly owns 203,076 shares in the company, valued at approximately $10,141,615.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the transaction, the chief financial officer now directly owns 203,076 shares in the company, valued at approximately $10,141,615.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The disclosure for this sale can be found here. Insiders have sold a total of 286,874 shares of company stock worth $14,148,517 in the last ninety days. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Schlumberger by 1.4% during the first quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock valued at $7,352,771,000 after purchasing an additional 1,868,688 shares in the last quarter. Capital World Investors raised its holdings in Schlumberger by 72.3% during the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after acquiring an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Schlumberger by 14.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after acquiring an additional 10,606,191 shares during the period. Norges Bank bought a new stake in Schlumberger during the fourth quarter valued at about $1,000,292,000. Finally, Capital International Investors raised its holdings in Schlumberger by 0.6% during the fourth quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock valued at $770,122,000 after acquiring an additional 89,483 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

About Schlumberger

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.